Chesapeake Energy Update: Cutting Rig Count & Production in 2023
Chesapeake Energy issued its quarterly and 2022 annual update yesterday. The company drills primarily for natural gas in both the Marcellus and Haynesville shale plays. Chesapeake’s net production in 4Q22 was approximately 4.05 Bcfe/d (90% natural gas and 10% total liquids), utilizing an average of 14 rigs to drill 58 wells and place 66 wells on production. That was for drilling across all of its shale plays, including the oily Eagle Ford. However, given the crash in prices for natural gas, CEO Nick Dell’Osso said the company is cutting rigs this year–axing two rigs in the Haynesville and one in the Marcellus.
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Yesterday morning Harrison County, OH, commissioners got a face-to-face update from Encino Energy’s director of external affairs, Jackie Stewart. You may recall that Encino bought out and took over all of Chesapeake Energy’s existing Ohio assets–both shale and non-shale–in November 2018 for $2 billion (see 
Big Green is Big Business–especially in Pennsylvania, where leftist groups routinely file a blizzard of lawsuits against the shale industry. Some Big Green groups receive funding from foreign sources, including Russia and China. They seem to have endless pools of money to litigate every square inch of new pipeline and every proposed new well pad. As if being repeatedly sued isn’t enough, these disgusting groups want the fossil fuel industry to pay them for their lawyers! When the groups are the ones filing the lawsuits!! The Democrat judges of the Pennsylvania Supreme Court, in a poorly reasoned decision issued yesterday, have granted Big Green the power to sue, and then get paid for suing.
Since 2015 we’ve reported on the case of Grant Township (Indiana County, PA), a town that passed an ordinance cooked up by the radical Big Green group Community Environmental Legal Defense Fund (CELDF) to try and block a state-approved injection well proposed by Pennsylvania General Energy (
Last summer then-Gov. Tom Wolf instructed the Pennsylvania Dept. of Environmental Protection (DEP) to conduct a comprehensive review of conventional oil and gas driller compliance with an eye on locating enough dirt to justify creating onerous new regulations for the industry (see 
Yes, you can “phone it in” for your job if you work in the oil and gas industry. According to search firm Piper-Morgan Search, remote work, at least for some jobs in oil and gas, “is an established reality now and it’s not going away.” Some workers are 100% remote and don’t (or won’t) go into an office to do their job. How cool is that? Of course, like many industries, not every job can be done remotely. Which type of O&G jobs can be done remotely?
MARCELLUS/UTICA REGION: GOP lawmaker plans to introduce bill to ‘eliminate’ RGGI regulation; NATIONAL: A Marshall Plan for energy security.